Ingenia buys Bellarine resort for $37 million

 Ingenia Communities (ASX: INA) will soon be the largest owner of holiday parks in Victoria after reaching a $37 million deal to acquire BIG4 Beacon Resort in Queenscliff, changing hands after more than a half-century in family ownership.

The 3.2ha property on the Bellarine Peninsula was under contract when Ingenia announced a $475 million capital raise at the start of this month that will go towards around $550 million worth of planned transactions.

Ingenia CEO Simon Owen said the iconic holiday park would increase the group's presence and profile in Victoria, while a retainer relationship with the vendor would allow Ingenia to further capitalise on the unique proposition created at BIG4 Beacon across Ingenia’s portfolio.

Read More: https://www.businessnewsaustralia.com/articles/ingenia-buys-bellarine-resort-for--37-million.html



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